Imam Ilyas Sidyot

Questions and Answers

Question: 006

Assalamuwalaikum, My name is ........... I am looking for some information and answers of some issues from Islamic point of views.

1. First of all is there any website/software related to learning to read the Holy Quran?

2. I would like to know whether it is legal/halal to invest money on mutual funds. Mutual fund is one kind of investment in stock market that a bank manages on the customers' behalf. Bank buys shares of different companies for their customers. These shares represent some ownership of those companies. So, both profit and loss are associated with it.

3. I am a graduate university student. In addition to my university funding I need some additional money to sustain my family. So is it legal for me to take federal/provincial student loan. These loans do not accrues any interest during the student life. But after I graduate from the university the government will start counting interest which is 2.75%.

Your answers for the above questions will be highly appreciated. Thank you,


Answer:

In the name of Allāh, Most Gracious, Most Merciful

Dear Br. in Islam, Assalamu Alaikum.

1. It is not jaiz to buy shares from the bank or any institute unless it is designed the shariah compliant way.

2. Takes a student loan pay back must be before accruing interest.

3. Wait for learning Quran on line I will send you soon.....

And Allāh Ta῾āla Knows Best

Wassalāmu ῾alaykum

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